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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
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